Power REIT 8-K Summary: Annual Meeting Results
Business Context and Reporting Period
This Form 8-K reports the results of Power REIT's 2016 Annual Meeting of Shareholders held on June 13, 2016. The filing details the outcomes of shareholder votes regarding the election of trustees and the ratification of the independent audit firm.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance voting results.
Material Changes
No material financial changes are reported in this filing. The document serves to disclose the final voting tallies for the annual meeting proposals.
Management Commentary and Governance Outcomes
Shareholders approved all proposals presented at the meeting:
- Election of Trustees: All four nominees were elected to the Board of Trustees for a one-year term. The voting results were as follows:
| Trustee Nominee | For | Withheld |
|---|---|---|
| David H. Lesser | 716,573 | 83,662 |
| Virgil E. Wenger | 716,712 | 83,523 |
| Patrick R. Haynes, III | 718,201 | 82,034 |
| William S. Susman | 680,202 | 120,033 |
| Justinian Hobor | 746,023 | 54,212 |
- Ratification of Auditor: Shareholders ratified MaloneBailey LLP as the independent audit firm for 2016.
| Vote Type | Count |
|---|---|
| For | 733,337 |
| Against | 40,755 |
| Abstain | 26,143 |
Investor Verification Checklist
- Verify the total number of shares outstanding to calculate the percentage of votes cast for each trustee.
- Review the May 13, 2016 proxy statement for detailed biographies of the elected trustees and the rationale for the auditor selection.
- Confirm the term length for the newly elected trustees (stated as one year in this filing).